Page 1 of 2

IA No. 633/21

and

CP(IB) No. 119/Chd/HP/2021

THE NATIONAL COMPANY LAW TRIBUNAL

CHANDIGARH BENCH, CHANDIGARH

(through web-based video conferencing platform)

Item 4

IA No. 633/21

and

CP(IB) No. 119/Chd/HP/2021

Under Section 7, IBC 2016

& Rule 11 of the NCLT Rules, 2016

In the matter of:-

Suvendu Banerjee

…Petitioner-Financial Creditor

Versus

Blue Coast Infrastructure Development Pvt. Ltd. …Respondent-Corporate Debtor

Present through Video Conferencing:

Mr. Mr. Balwinder Kalsi, Advocate for the petitioner in main CP and for respondent

in IA No.633/2021

Mr. Abhishek Chhabra, Advocate for the respondent in main CP and for applicant

in IA No.633/2021

IA No.633/2021

The present application has been filed by applicant/corporate debtor for

placing on record the Settlement Agreement dated 07.05.2021 and Memorandum

of Settlement dated 17.08.2021. The same is taken on record. Accordingly, IA

No.633/2021 is allowed and disposed of.

CP (IB) No. 119/Chd/HP/2021

It is stated by learned counsel for the respondent-corporate debtor that as

per the Memorandum of Settlement dated 17.08.2021 filed vide IA No.633/2021, the

last installment was to be paid on 24.08.2022 and Demand Draft bearing DD

No.527269 in favour of Mr. Suvendu Banerjee dated 25.08.2022 has been prepared.

However, it is stated by learned counsel for the petitioner-financial creditor on

instructions that the said demand draft be handed over to Mr. Syed Aqib Ali,

Advocate and to which the learned counsel for the respondent has agreed and

stated that on instructions he will do the needful within one week. Consequently, it

Page 2 of 2

IA No. 633/21

and

CP(IB) No. 119/Chd/HP/2021

is stated by learned counsel for the petitioner that he may be permitted to withdraw

the present petition with liberty to revive the same, if there is non-compliance of the

undertaking given by learned counsel for respondent for handing over the said

demand draft to Mr. Syed Aqib Ali, Advocate. Accordingly, in view the statement of

learned counsel for the petitioner, he is permitted to withdraw the main petition and

resultantly, main petition bearing CP (IB) No.119/Chd/HP/2021 is dismissed as

withdrawn with liberty aforesaid.

Sd/-

Sd/-

(Subrata Kumar Dash) (Harnam Singh Thakur)

Member (Technical) Member (Judicial)

September 02, 2022

AV